MetLife Investment Management LLC Has $29.70 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

MetLife Investment Management LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,020 shares of the semiconductor company’s stock after selling 3,247 shares during the quarter. MetLife Investment Management LLC’s holdings in Analog Devices were worth $29,697,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in Analog Devices during the 3rd quarter valued at $28,000. New Millennium Group LLC bought a new position in shares of Analog Devices during the 2nd quarter worth about $29,000. Archer Investment Corp raised its position in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. ORG Partners LLC lifted its stake in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the period. Finally, CVA Family Office LLC grew its position in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,995 shares of company stock valued at $25,116,338. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of several recent research reports. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Bank of America reduced their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Morgan Stanley boosted their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $251.55.

Analog Devices Stock Up 1.3 %

Shares of NASDAQ ADI opened at $221.93 on Wednesday. Analog Devices, Inc. has a 12-month low of $179.63 and a 12-month high of $244.14. The firm’s 50-day simple moving average is $224.75 and its 200 day simple moving average is $225.92. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company has a market cap of $110.19 billion, a price-to-earnings ratio of 65.78, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.